Eurocell to pause branch openings until economy outlook ‘becomes clearer’

Alfreton-based manufacturer of PVC products, Eurocell, is set to pause the opening of any new branches until the UK economic outcome is clearer.

Announcing positive turnover results this morning (January 26), the firm said that it completed a restructuring programme in the last quarter of 2022 which will save it £5m a year, but cost it some £2m to carry out.

Eurocell said that the cyber security breach it experienced last summer was now resolved, with it receiving £1m from an insurance claim.

Despite this, sales were up by 13% at Eurocell last year.

A statement from the company said: “We continue to take market share and have increased the run rate on new fabricator account acquisitions, with our pipeline of other potential new fabricator customers remaining healthy. Market share gains are further supported by the impact of maturing branches and a widening product range, all underpinned by very high product availability and increasingly efficient operations.

“Our debt is low, our balance sheet is strong and we remain confident of continuing to outperform our markets.”